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What is the difference between elastic and inelastic demand? Give 5 points?
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What is the difference between elastic and inelastic demand? Give 5 points?

User Nepho
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1 Answer

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Step-by-step explanation:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes )

inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service when another economic factor is changed.

User Maresa
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